There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Cumberland Pharmaceuticals Inc. (CPIX) and ChemoCentryx (CCXI) with bullish sentiments.
Cumberland Pharmaceuticals Inc. (CPIX)
B.Riley FBR analyst Andrew D’silva maintained a Buy rating on Cumberland Pharmaceuticals Inc. today and set a price target of $12.25. The company’s shares closed yesterday at $5.38.
D’silva said:
“Cumberland (CPIX) reported 1Q19 results and held a conference call at 4:30PM ET. (We are the only broker covering CPIX.) The top-line/adj. EPS came in at $11.9M/$0.11, versus our estimate of $10.7M/$(0.11). The top-line beat was primarily due to and other sales—which is primarily tied to CPIX’s 80% ownership in $0.7M, respectively, vs. our $2.4M, $2.0M, $1.0M and $0.2M projections. CPIX’s adj. EPS benefited from the top-line beat as well as from stronger gross margins and lower opex than we were projecting. Management provided context around the strategic review it originally announced at the end of 1Q19.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 7.0% and a 38.5% success rate. D’silva covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Sensus Healthcare Inc, and Anixa Biosciences Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Cumberland Pharmaceuticals Inc..
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ChemoCentryx (CCXI)
In a report released today, Harshita Polishetty from B.Riley FBR reiterated a Buy rating on ChemoCentryx, with a price target of $22. The company’s shares closed yesterday at $11.94.
Polishetty observed:
“Last week (5/6), ChemoCentryx (CCXI) reported 1Q19 financial results and provided an update on its pipeline. As a reminder, the company’s lead candidate avacopan is a complement factor C5a receptor (C5aR) antagonist, currently being investigated in ANCA-associated vasculitis (AAV) in the Phase III ADVOCATE trial, with top-line data expected in 4Q19. We believe there remains an unmet need in AAV, as evidenced by the faster enrollment rates in the ADVOCATE trial. In addition, we believe the ADVOCATE trial has been significantly de-risked by the positive Phase II data reported to date. We look forward to the Phase III top-line readout in 4Q19 and reiterate our Buy rating, $22 price target.”
According to TipRanks.com, Polishetty is a 3-star analyst with an average return of 7.2% and a 56.3% success rate. Polishetty covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Karyopharm Therapeutics, and G1 Therapeutics Inc.
Currently, the analyst consensus on ChemoCentryx is a Strong Buy with an average price target of $22.25, representing an 86.3% upside. In a report issued on May 6, Piper Jaffray also reiterated a Buy rating on the stock with a $20 price target.
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